If you’ve made it this far in my three part post on the new tax bill, you’ve likely checked out my overview and analysis of the new rules in Part 1 and reviewed my examples of how it will impact middle class Americans in Part 2.

Throughout Part 1 and Part 2, I make it clear that the new tax rules further incentivize small business owners and self employed individuals.

If you are interested in starting a small business but are at a loss for what kind to start, I suggest a few easy, low-cost small business options in this conclusion to my three part post on the new tax bill.

Part 1 of this 3 part post introduced the new tax bill, rated each major change and suggested that, if you aren’t already self employed or running a small business, you might want to give some serious consideration to making a change.

If you haven’t read Part 1, you should check it out.

In this second part, I will layout several examples of how the changes in the tax rules will impact average, middle class Americans.

I also demonstrate how much each person would save on their income tax bill if the income they were earning from their job was instead earned from self employment or a small business they owned.

If you haven’t heard, a new tax bill has been passed that will impact every American taxpayer in some way.

What you may not quite grasp yet is how it will impact you.

You’ve probably heard some sound bytes on the news and may have even formed something of an opinion on the changes, but there’s a good chance that you don’t totally follow exactly how the new rules will impact you.

If this is the case, you’re in luck.

I’ve created this three part, easy to digest explanation of what the new tax rules are and how they impact you if you consider yourself a middle class American.

Health insurance isn’t cheap and can be a huge burden if you are running a small business and don’t have another resource for obtaining it.

Fortunately, there is a deduction available for self-employed health insurance premiums for many small business owners.

Unfortunately, it isn’t available for all small business owners and, even if you are eligible for the deduction, some inequalities exist in how much of a deduction you receive compared to how health insurance premiums are handled for traditional employees.

There are also some special rules and record-keeping requirements you need to keep in mind if you take advantage of this deduction.

The auto expense deduction could be incredibly valuable for your small business, but you need to know what auto expenses or miles are deductible so that you can take full advantage of it without taking more than you are eligible for.

If you want to know what expenses or miles qualify for an auto expense deduction, why home-based businesses are typically at an advantage when it comes to this deduction and how you could save thousands of dollars in taxes by taking full advantage of it, keep reading.